From WINN

St. Kitts and Nevis (WINN): The International Monetary Fund, IMF, is projecting moderate  growth for the Caribbean for 2017.

According to Alejandro Werner, Director of the Western Hemisphere Department, the most recent world economic outlook suggests that prospects for the Caribbean region are improving.

The Caribbean moved from a projected growth of 3.7% in 2016 to 3.8% for 2017.

Global growth projections have also improved slightly from 3.1 percent in 2016 to 3.4 percent in 2017.

The region continues to face several risks, including the withdrawal of correspondent banking relationships and a high degree of policy uncertainty in the United States.

The IMF said “After a lackluster outturn in 2016, economic activity is projected to pick up pace in 2017 and 2018, especially in emerging market and developing economies. However, there is a wide dispersion of possible outcomes around the projections, given uncertainty surrounding the policy stance of the incoming U.S. administration and its global ramifications.”

The IMF is urging countries to enhance resilience  amid increasingly volatile external conditions by strengthening their monetary policy frameworks against the backdrop of a tightening of global financial conditions.

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